[epups]

Nixon's economic measures were a disaster that led to inflation and crisis. You can see that directly in your link btw.

[random_upvoter]

That was not my point, but thanks for pointing out a paragraph in the source that I provided. I do notice a few 'citations needed' in the relevant clauses. Even so, if Nixon's policies resulted in failure that's not a reason for politicians today to just throw their hands in the air and declare that nothing can be done politically because "market dictates".

[panphora]

When you noodle around in the market "to do what's right", you end up creating a new set of problems down the road when the expectation of getting bailed out becomes part of the market's future calculations.

See: FED keeping rates low for over a decade leading to complacency at banks who assume if things get really bad, FED will pivot rate hikes and they'll get bailed out again.

[epups]

Well, if the one measure you point out as what the government could do today led to worse outcomes, then I do think they should abstain from that kind of interference in the future. I don't think price controls have worked anywhere.

[random_upvoter]

So what's the plan now? Let this thing run its course until there are food riots in the USA?

[epups]

Ironically, price controls are more likely to get us in that scenario, as they typically preclude shortages.

[random_upvoter]

You are very confident in your knowledge about a lot of things.